SEARS HOLDINGS:

Share buyback plan up by $500 million

September 14, 2006|By Bloomberg News.

Sears Holdings Corp., the largest U.S. department-store company, increased its share repurchase plan by $500 million, the company said Wednesday.

The buyback is in addition to $118 million remaining from a $1.5 billion repurchase plan announced a year ago, the Hoffman Estates-based company said. Since initiating that program in September 2005, Sears Holdings has purchased approximately 11 million of the company's common shares at an average cost per share of $126.14. Sears Holdings stock closed Wednesday at $158.45, up $2.61.